Swatch Group Increases Net Income by 39% in H1

Leading watch maker Swatch increased its net sales to CHF 460 million ($381.6 million) in the first half of the fiscal year, a 39.4 percent rise over the first half of 2006.

Group gross sales climbed by 16.7 percent to CHF 2.739 billion ($2.266 billion), as the company witnessed strong worldwide demand for watches and jewelry, its core business. Gross sales in the watch segment rose by 20 percent to CHF 2.113 billion ($1.748 billion).

Swatch in particular noted strong growth in the luxury segment, mostly with their Breguet, Blancpain and Omega brands, but did not provide any specific sales figures.